The Euro is not "just another foreign currency" - it's a real change to the business environment throughout Europe.

On January l, 11 European Union Countries started using a single currency and these countries have now locked the exchange rates of their national currencies to the Euro.

From a practical viewpoint the single currency will affect us whether we join EMU or not.

One of the biggest changes for European companies will be through price transparency - price differences throughout countries participating in EMU will be much more obvious.

Your customers will find it easier to shop around within the Euro zone and as the Euro highlights differences, so prices may come under downward pressure.

UK exporters may find their products coming under closer scrutiny. However, if you import from the Euro zone you can benefit from this transparency.

Now is the time to shop around within the Euro zone and you will find that prices vary significantly. Price transparency may also show your products offer good value for money and this may offer a chance to expand by entering new markets.

Steven Gash is a partner with Clough & Company, Bradford.

Converted for the new archive on 30 June 2000. Some images and formatting may have been lost in the conversion.